As we to monitor the continuously changing situation around COVID-19, we remain committed to helping our clients access the support and resources they need. We hope that you, your family, your friends and those you work with are staying healthy. Although this is a difficult time, we do have some positive and important news that we would like to share with you.
In order to increase cash flow to providers of services and suppliers impacted by the 2019 Novel Coronavirus (COVID-19) pandemic, the Centers for Medicare & Medicaid Services (CMS) has expanded our current Accelerated and Advance Payment Program to a broader group of Medicare Part A providers and Part B suppliers. The expansion of this program is only for the duration of the public health emergency. Details on the eligibility, and the request process are outlined below. The information below reflects the passage of the CARES Act (P.L. 116-136).
An accelerated/advance payment is a payment intended to provide necessary funds when there is a disruption in claims submission and/or claims processing. These expedited payments can also be offered in circumstances such as national emergencies, or natural disasters in order to accelerate cash flow to the impacted health care providers and suppliers. CMS is authorized to provide accelerated or advance payments during the period of the public health emergency to any Medicare provider/supplier who submits a request to the appropriate Medicare Administrative Contractor (MAC) and meets the required qualifications.
Eligibility: To qualify for advance/accelerated payments the provider/supplier must:
1. Have billed Medicare for claims within 180 days immediately prior to the date of signature on the provider’s/supplier’s request form.
2. Not be in bankruptcy.
3. Not be under active medical review or program integrity investigation, and
4. Not have any outstanding delinquent Medicare overpayments.
More information regarding this matter, including step-by-step guide on how to request accelerated or advance payment, can be found here.
Please feel free to contact us if you have questions that you would like us to answer.